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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Binance Celebrates Significant Milestone After Six Years In Operation

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Binance

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Binance, the world’s largest crypto exchange by trading volume, has achieved another significant milestone. The firm, which recently turned six, keeps racking up several achievements despite the FUD that has surrounded it in recent times. 

A Worthy Feat For Binance

The world’s largest crypto exchange by daily trading volume has recently disclosed that its registered users now stand at a whopping 150 million. This was revealed in a tweet by its CEO, Changpeng “CZ” Zhao, on Thursday. 

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In the tweet, CZ noted his company’s milestone amidst growing regulatory scrutiny of its operations the world over. However, despite navigating through different challenges, Binance has managed to captivate the interest of several millions of users around the globe. So this is a testament to the platform’s quality service delivery and amazing features. 

Just over a year ago, in July 2022, the exchange’s user base stood at about 120 million. The astonishing growth of 30 million users within the span of just 12 months tells of Binance’s undeniable hold in the constantly evolving cryptocurrency ecosystem. 

A cursory look at the platform’s traffic data for the last three months shows that the top five nations contributing to this spike are Vietnam, India, Russia, Turkey, and Argentina. The increased expansion across various diverse geographies demonstrates the heightened acceptance and penetration of digital currencies. 

Binance Coin (BNB) price chart from Tradingview.com

BNB price trends at $241 as users base reaches new high | Source: BNBUSD on Tradingview.com

Navigating Regulatory Challenges

As expected, with growth comes challenges and Binance’s journey has not always been all growth and triumph. The platform has been the subject of various legal challenges across diverse jurisdictions. 

The exchange was recently charged with “will evasion” and fraud by the United States Securities and Exchange Commission (SEC) in June this year. In Europe, Binance is under probe by French regulators who accused the platform of engaging in money laundering. It has also been ordered to cease rendering crypto services by Belgium’s financial watchdog. 

In China, the services of the platform are restricted and inaccessible to millions of users within the country. Binance has also withdrawn its license applications and canceled its registration bids in several countries. 

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However, Binance has been able to make some gains in recent times. Earlier this month, it restored services in Japan, following the purchase of the local exchange Sakura Exchange BitCoin (SEBC) in November 2022. It has also been given a license to render cryptocurrency services in Dubai. 

All these hurdles make the latest milestone not only remarkable but testamentary. The road to 150 million registered users has been paved with various challenges, but Binance has so far emerged victorious and triumphant. 

Featured image from Reuters, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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